Have you seen this man? China’s Warren Buffet gone missing

Messages surfaced on several social media sites in the afternoon, claiming that Guo was seen being escorted by police at an airport in Shanghai.

A behemoth with holdings across insurance, asset management and industrials in the mainland, Fosun is best known overseas for its ownership of the Club Med holiday resort chain, its stake in performance group Cirque du Soleil, and high-profile commercial property investments in the United States and Europe.

Earlier media reports showed that Fosun International has been involved in a corruption case involving Wang Zongnan, former general manager of Shanghai Friendship Group and Lianhua Supermarket. They cited the pending release of an announcement with “inside information”.

But it clarify whether he was under investigation himself or assisting a probe. Fosun Group now controls four domestically listed companies and two Hong Kong-listed entities.

Fosun Group is due to hold its annual meeting on Monday, where Guo usually makes a speech, Chinese news portal Sohu said.

Last month, Guotai Junan’s stock slumped after the brokerage said its chairman went missing. He is a delegate to the Chinese People’s Political Consultative Conference and has amassed a personal net worth of $5.7 billion (£3.7 billion), according to Forbes.

Guo owns 45.84 percent of Fosun International Ltd., a Hong Kong-listed subsidiary of Fosun Group. “Investors are anxious that any negative news about Guo Guangchang might cause severe financing problems for the privately-owned company”, said a high-yield bond trader.

The mystery over Fosun International chair Guo Guangchang’s whereabouts appears to have been resolved for the time being, with the billionaire detained by Chinese authorities to assist with an investigation.

Caixin’s website also quoted unnamed sources who said that employees of Fosun have “lost contact” with Guo.

Those investigations led to a number of financial bosses temporarily disappearing.

The HKEx filings come a day after reports Thursday Guo, sometimes referred to as China’s Warren Buffett, could not be found.

The court said Wang misused his position “to seek benefits for Fosun Group”, according to Caixin.

Fosun clarified later that it did not receive any benefits from Wang’s company and that the conglomerate is a supporter of Beijing’s anti-corruption move.

Today, the conglomerate has a wide range of global investments including Greek fashion brand Folli Follie and the Chase Manhattan building in NY.

In May, Fosun International bought an 80 percent stake of USA insurer Ironshore Inc.